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OPEC chief dismisses IEA supply glut forecast as 'critical' Strait of Hormuz reopens

CNBC · Jun 18, 2026, 3:19 PM · Also reported by 3 other sources

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  • OPEC Secretary General Haitham al-Ghais on Thursday dismissed the International Energy Agency's prediction of a supply glut brewing in oil markets.
  • The International Energy Agency said on Wednesday that a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year.

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OPEC Secretary General Haitham al-Ghais on Thursday dismissed the International Energy Agency's prediction of a supply glut brewing in oil markets.

The International Energy Agency said on Wednesday that a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year.

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